Dr Reddy's in pink of health after USFDA clears Mexican facility

Dr Reddy's Laboratories gained 0.4% to Rs 2,756 at 12:00 IST on BSE after the company said that the audit of its active pharmaceutical ingredient Cuernavaca Plant at Mexico, by the USFDA, has been completed with zero observations.

The announcement was made during market hours today, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 49.74 points or 0.16% at 31,954.14.

On the BSE, 11,944 shares were traded on the counter so far as against the average daily volumes of 33,833 shares in the past one quarter. The stock had hit a high of Rs 2,777 and a low of Rs 2,727 so far during the day. The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,382.05 on 29 May 2017.

The stock had outperformed the market over the past one month till 20 July 2017, gaining 2.84% compared with Sensex's 1.94% rise. The scrip had, however, underperformed the market in past one quarter, gaining 5.13% as against Sensex's 8.44% rise. The scrip had also underperformed the market in past one year, declining 25.36% as against Sensex's 14.29% rise.

The large-cap company has equity capital of Rs 82.91 crore. Face value per share is Rs 5.

The company will announce Q1 results on 27 July 2017. Dr Reddy's Laboratories' consolidated net profit rose 175.4% to Rs 337.60 crore on 5.4% decline in net sales to Rs 3554.20 crore in Q4 March 2017 over Q4 March 2016.

Dr Reddy's Laboratories is an integrated global pharmaceutical company.

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